VBit Closes a $1.1M Funding Round to Open One of the Largest Bitcoin Mining Data Centers in the World
May 6, 2020 - VBit News
We are thrilled to announce our $1.1 million seed funding round led by angel fund Golden Age.
VBit will use the funding to begin the construction of a 200MW data center in Alberta, Canada. Once completed, VBit’s massive Alberta data center will be one of the largest data centers in the world dedicated solely to Bitcoin mining operations. The size of the center and access to inexpensive electricity will allow VBit to offer its customers increased mining efficiency and considerably better ROI than was previously possible.
VBit Technologies was founded in 2018 when a few crypto believers and aficionados came together and began exploring the concept of making crypto mining, and its incredible potential more accessible to the general public. Today, VBit is committed to its mission: Leveraging its cutting-edge data centers and equipment to help build efficient cryptocurrency mining operations that can be utilized by everyone. Since launching, VBit has helped around 3,000 customers, and its user growth has been exponential month over month, with users in many different countries.
Don Vo, CEO, and Founder of VBit Technologies commented on what this will mean for the company, the Bitcoin mining community and, most importantly, for those who are yet to join it:
“We are thrilled to have the support and capital needed to accelerate our growth further. So far, we’ve been proud of how much our customers gained, and now we’re taking this to the next level. I am not only talking about the quantity of the Bitcoin they mined but the feeling of financial security especially in times like this.”
“We expect more people to join us as our new data center will make a change out there in terms of accessibility and clarity of ROI. Bitcoin mining has been opaque and seen as something ambiguous and murky for far too long. We are incredibly excited to offer something reachable, affordable, and efficient for a change that can make a real impact on peoples’ lives.” he continued.